The Prime Minister of the Kyrgyz Republic Mukhammedkaly Abylgaziev met with Centerra Gold Inc. CEO Scott Perry, the Information Support Department of the Government’s Executive Office reported. The parties discussed issues related to the strategic agreement signed on September 11, 2017. Mukhammedkaly Abylgaziev noted that the government realized the significant role of Kumtor in the…
DetailsThe prices of main precious metals increased in Azerbaijan on May 22, according to the data published by the Central Bank. The cost of gold increased by 1.8105 manats, to 2191.5635 manats per ounce compared to the price on May 21. The price of silver increased by 0.1365 manats, to 27.9847 manats per ounce. The…
DetailsBelorucheyskoye Mine Group, managed by Karelsky Okatysh, has started a new navigation and manufacturing season. “In 2018 we plan to mine 2.423 million tons of rock and produce 1.374 million tons of limestone, as well as renovate our quarry machinery park. We will buy a 45-ton BelAZ, a bulldozer and an autograder”, the mine group…
DetailsThe Safyanovskaya Med mine, a part of UGMK, has mined the 1-millionth ton of copper ore. The development of the deposits started in 1992 as an open-pit mining; and is bound to be completed in 2020. In 2010 the construction of the underground mine began. So far the miners have reached the level of 500…
DetailsIn 2017 MMK sold 3.22 million tons of hot-rolled metal, with some 60% supplied to Russian pipe companies. According to MMK senior region sales manager Andrei Golitsyn, the main customers are Seversky Pipe Works, Uraltrubprom and Almetyevsky Pipe Works. Last year Ural Federal District accounted for around 55% of all sales, with Privolzhsky for 30%…
DetailsRussia, which controls its own terrorist organization of the Donetsk People’s Republic, has started restoring machinery at Yenakievo Iron and Steel Works, burned down by the militants in early April. “The rare and expensive machinery is slowly being restored, the manufacturing process is going on. Thanks to the Russian specialists and enormous sums of money…
DetailsShareholders of Ingulets Mining and Processing Works, Central Mining and Processing Works and Severniy Mining and Processing Works (all parts of Metinvest) at their meetings on May 18 decided to pay dividends for 2017 in the total of 4.86 billion UAH. In particular, InGOK will spend 2.16 billion UAH to pay dividends, and leave 2.6…
DetailsIn April metal companies consumed 140 million cubic meters of natural gas, down by 18% MoM. In January-April gas consumption totaled 650 million cubic meters, down by 2% YoY, taking into account operation of assets on non-controlled territory in January-February 2017, or up by 9% without them. Electric energy consumption in 4 months reached 4…
DetailsIn January-April Ukraine exported 216 thousand tons of scrap, or 354% as compared to the same period of the previous year. In 4 months Ukraine procured 1.16 million tons of scrap, up by 10%. 944 thousand tons were supplied to the metal companies, down by 5%. The level of provision of metal companies with scrap…
DetailsThe state enterprise Lvivugol has signed an agreement with Gelikon Company LLC on the delivery of flight chain valued at 3.2 million UAH. The state enterprise also purchased some spare parts for conveyor belts valued at 1.9 million UAH from the same company. The length of the chain is 1600 m, with the size of…
DetailsIn January-March Vysochaishiy received 3.207 billion rubles of revenue, up by 52% YoY.
Sales profit reached 1.419 billion rubles, up 2-fold YoY. Net profit increased by 41%, to 1.005 billion rubles.
As of March 31, the company accounts receivable totaled 1.132 billion rubles. (Ukrainian metal)
In January-March Zabaikalye region mined 18322 tons of lead and 10935 tons of zinc, up by 1.6% and by 21.7% YoY respectively. Two companies mine for lead and zinc ores in the region – Novo-Shirokinsky Mine and Baikalrud LLC. Last year the former produced 3976 tons of lead and 6718 tons of zinc, while the…
DetailsIn January-April Polyus Aldan, operating in the Aldan district of the Republic of Sakha (Yakutia), mined 2 tons of gold, up by 157 kg YoY. The company has overfulfilled its own target by 134 kg. In Q1 gold output increased by 13% YoY, to 46.5 thousand ounces. Last year the company mined 171.5 thousand ounces…
DetailsSince the start of the year Kanchalan-Amguem Area LLC (KAP) has extracted 50.2 kg of gold at the Gorny site in Chukotka. Silver output totaled 225 kg. By the end of Q2 the company intends to have mined 505 kg of gold. The company started operating at the site in January. Its resources are estimated…
DetailsSince the start of the year Russky Ugol (Russian Coal) has increased coal output in Krasnoyarsk region by 13% YoY, to 350 thousand tons, at the Sayano-Partizansky pit alone. By the end of the year the output will have increased by 20%. In Q1 75% of all coal mined was exported. Last year the company…
DetailsIn January-March VSMPO-Avisma received 18.033 billion rubles of revenue, up by 1% YoY.
Net profit dropped by 20%, to 4.069 billion rubles, mostly because of the strengthening of the Russian ruble exchange rate as to Q1 2017.
Last year the group net profit decreased 2-fold YoY, to 12.8 billion rubles. (Ukrainian metal)
Kuzbassrazrezugol intends to construct 2 processing factories – at the Bachatskiy and Krasnobrodksy open pits. According to UGMK-Holding LLC CEO Andrei Kozitsyn, the project will start after 2020, when the processing factory at the Taldinsky open pit is commissioned. “Thus we will be processing all the coal we mine. In 4 years we will be…
DetailsNLMK will construct another continuous-casting machine to replace the one, operating since 1976. SMS group will supply all the necessary machinery. The capacity of the new CCM will be 2 million tons per year. The new machine will allow NLMK producing billets with the thickness of 400 mm and width of 2800 mm. The CCM…
DetailsThe prices of main precious metals decreased in Azerbaijan on May 21, according to the data published by the Central Bank. The cost of gold decreased by 6.8755 manats, to 2189.753 manats per troy ounce compared to the price on May 18. The cost of silver decreased by 0.0497 manats, to 27.8482 manats per ounce.…
DetailsArcelorMittal Kriviy Rih railroad shop resumed operation after a 3-day strike. According to the union, the management agreed to increase the wages to the railroad employees: to 18 thousand UAH to locomotive drivers, 15 thousand UAH to their assistants and 14 thousand UAH to shunters. At the same time, employees of the mining department railroad…
DetailsRussian aluminum giant UC RUSAL has not received a notification of resignation of Oleg Deripaska, the company said in a press release on May 21. “As at the date of this announcement, the company has not received any formal resignation from Mr. Deripaska,” RUSAL said. On May 18 En+ Group announced resignation of Deripaska from…
DetailsThe London Metal Exchange (LME) plans to lift a ban on trading of some products of Russian aluminum giant UC RUSAL that was introduced earlier due to the U.S. sanctions, Bloomberg reported on May 21 citing Hong Kong Economic Journal. LME is currently in talks with the government to study a possibility of trade of…
DetailsLast week, the price of one ounce of gold in Azerbaijan decreased by 52,343 manats or by 2.3336%. Accordingly, the average price of one ounce of gold stood at 2,211.7221 manats. The price of one ounce of silver decreased by 0,499 manats or by 1.7572%, to 27.97428 manats. The price of one ounce of platinum…
DetailsIn 2018 Polymetal Int plans to obtain 16.3 tons of gold equivalent in Magadan region. In Q2 the group intends to resume the seasonal operation of the Birkachan heap leaching site. According to the company CEO Vitaliy Nesis, by 2020 output will have increased due to the commissioning of the new mine at the Teploye…
DetailsBystrinsky Mining and Processing Works has started selling magnetite (iron ore) concentrate. The first batch of 680 tons has been shipped to China. In May some 10 thousand tons of the concentrate will be sold. In April the works started selling copper concentrate. 4.5 thousand tons have been sold to China. BGOK also intends to…
DetailsThe council on the strategic development of the MMK Group has approved the project on the construction of the blast furnace slag dry cooling machine.
The cost of the project is 3 billion rubles.
It will undergo an expertise soon.
The project will be carried out by Shlakservice LLC, a part of MMK. (Ukrainian metal)